	Learn about the National housing trust in Jamaica and the services that they offer.
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National Housing Trust Jamaica

Learn about the NHT in Jamaica

The National Housing Trust was established in 1976 to address the housing shortage which resulted from a growing population and the inadequate annual output of houses by the public and private sectors. The Trust emerged out of the need for a financial institution that could mobilize additional funds for housing and ensure that those funds are available to more Jamaican families at rates below the traditional markets rates. The institution was given a broad mandate to add to and improve the country's existing supply of housing to enhance the usefulness of the funds of the Trust by promoting greater efficiency in the housing sector.

The NHT is funded by a combination of personal and corporate contributions. Employers are required to deduct 2% of each employee's salary along with 3% of their own wage bill and remit these funds to the NHT on a monthly basis. Self-employed persons contribute 2% or 3% of earnings depending on the occupational category in which they fall. Under the NHT Act, all employed persons, between the ages of 18 and 65, who are earning the minimum wage and over must make contributions to the Trust.

The NHT intends to provide you with customer service of the highest quality which you can access easily and which will be responsive to you. We welcome positive feedback but if you believe that things have gone wrong or if you have any question or concern, we also want to hear about it so that we can deal with it as quickly as possible.

The NHT is committed to providing a first-class service - at the reception desk; in the cashier area; at loan origination and legal conveyance, at out branches and service centers and all other points where we meet customers. We strive to ensure that you have no cause to complain. However, if you are in any way unhappy with the service you receive, please let us, the customer care and complaints officers, know. Often a problem can be dealt with on the spot. We will identify ourselves by name, in all correspondence, on the telephone and in face to face contact with you. We will also wear identification cards at all times so you can identify us.

September 20, 2006: As part of its 30th anniversary celebration, the National Housing Trust is offering mortgagors the opportunity to earn a 10% discount on their loan balances, if they pay off their outstanding balances during the period October to December 2006. This is one of two payment incentives being offered. The second incentive is a waiver or reduction in the 12.5 % debt management fee, normally imposed on accounts in arrears.

Under the Pay-Off Incentive Program, all mortgagors who close their mortgage accounts during the period October to December 2006 are eligible for discounts on the amounts owing. The pay-off discount will be 11% in October, 10% in November and 9% in December respectively.

The NHT is also offering mortgagors whose payments are in arrears for 60 days or over, a waiver or reduction in the 12.5 % debt management fee usually applied to outstanding balances. This waiver is only available if persons pay off their entire arrears during October to December 2006. If they pay 75% to 99% of the amount in arrears during that period, they will enjoy a 6.5 % reduction of the fees. If they pay less then 75% of the arrears, the full 12.5% debt management fee will be applied.